Thursday, July 18, 2013

Elizabeth Warren Destroys CNBC

CNBC loves backing Wall Street and the big banks. People are becoming aware of this and CNBC's ratings are tanking.

The Squawk Box attempted to tear Elizabeth Warren for proposing to bring back the Glass-Steagall Act. That would mean the commercial and investment banks would be separated. Obviously, the Street does not like this and CNBC was going to defend the status quo. The Squawk Box was at a loss when Warren pointed out there was no major financial the crash when the Glass-Steagall Act was in place. Charles P. Pierce of Esquire summed it up best.

My god, this is a kicking of the ass. Sooner or later, they're going to realize that you really do have to bring the A-game on this stuff to the Senior Senator, or she is going to smile her Okie smile and the hook is going to come off the jab and, as the great Jimmy Breslin once put it, you will leave the ring in a blanket. She does mean business. Someone should start to believe that.